Affiliated Managers Group (NYSE:AMG) Price Target Raised to $152.00

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Affiliated Managers Group (NYSE:AMG) had its target price upped by investment analysts at Deutsche Bank Aktiengesellschaft from $150.00 to $152.00 in a report released on Tuesday, The Fly reports. The brokerage currently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential downside of 5.69% from the company’s previous close.

Several other equities research analysts also recently weighed in on AMG. Citigroup raised Affiliated Managers Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $108.50 to $172.00 in a report on Tuesday, February 9th. Credit Suisse Group increased their price target on Affiliated Managers Group from $118.00 to $130.00 and gave the stock a “neutral” rating in a report on Tuesday, February 9th. Finally, Barrington Research reiterated an “outperform” rating and issued a $180.00 price objective (up previously from $145.00) on shares of Affiliated Managers Group in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $144.43.

Shares of NYSE AMG traded down $0.24 during mid-day trading on Tuesday, hitting $161.17. 5,823 shares of the company were exchanged, compared to its average volume of 422,905. The stock has a 50 day simple moving average of $153.90 and a 200-day simple moving average of $118.22. Affiliated Managers Group has a 1-year low of $56.80 and a 1-year high of $165.86. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 69.20, a price-to-earnings-growth ratio of 0.53 and a beta of 1.44.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Sunday, May 2nd. The asset manager reported $4.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.24 by $0.04. Affiliated Managers Group had a return on equity of 19.15% and a net margin of 5.37%. The firm had revenue of $559.30 million during the quarter, compared to the consensus estimate of $554.48 million. During the same period last year, the company earned $3.26 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts anticipate that Affiliated Managers Group will post 12.84 EPS for the current year.

In other news, Director Reuben Jeffery III purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, February 10th. The stock was acquired at an average price of $145.53 per share, for a total transaction of $363,825.00. Following the completion of the transaction, the director now directly owns 17,500 shares in the company, valued at approximately $2,546,775. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jay C. Horgen acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 9th. The shares were bought at an average cost of $136.23 per share, for a total transaction of $544,920.00. Following the purchase, the chief executive officer now owns 136,026 shares of the company’s stock, valued at $18,530,821.98. The disclosure for this purchase can be found here. Company insiders own 1.69% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Affiliated Managers Group during the fourth quarter valued at $40,790,000. Lyrical Asset Management LP boosted its stake in shares of Affiliated Managers Group by 3.5% during the fourth quarter. Lyrical Asset Management LP now owns 1,034,404 shares of the asset manager’s stock valued at $105,199,000 after acquiring an additional 34,880 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in Affiliated Managers Group in the 1st quarter worth about $246,000. Truvestments Capital LLC acquired a new stake in Affiliated Managers Group in the 4th quarter worth about $33,000. Finally, UBS Asset Management Americas Inc. boosted its stake in Affiliated Managers Group by 18.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 81,174 shares of the asset manager’s stock worth $8,255,000 after buying an additional 12,409 shares during the last quarter. 98.78% of the stock is currently owned by institutional investors and hedge funds.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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